WHY do banks make life so difficult?
- Thread starter Lisa M 99
- Start date
Your right Lisa… it does get worse.
I can confirm that what JPG writes is so true. Had similar problems with the major High Street Clearing Bank, which “mum” used for her Current account and a regular saver account.
I went in and registered the death AND had them copy the Will to prove I was an executor AND had them copy a letter from my sister to say I would be acting as sole executor.
A few days later I had a letter confirming I had registered the death and asking to see the Will. Went in and sorted that out by telling them they had a copy.
A few days later got a letter saying that the will named two executors and so my sister would have to go into the branch and sign. So I went in again with my sister’s letter and confirmed they had already got a copy of her letter.
“Mum” had a “regular saver” account with this bank so I needed the interest due at date of death.
Not to bore you with the details I have now got in my possession. .
1. A closing statement printed out by the bank clerk 43 days AFTER the date of death when the account was closed and the money transferred to the executor account. When I said this £60 interest must be greater than at the date of death the bereavement person simple wrote on the statement that it was the “interest due at the date of death”… and signed it.
2. I left and then tried again by letter. This time I received a form headed “DUPLICATE” which clearly states that the interest due for the 43 days BETWEEN the date of death and the account being closed is the same £60
3. I eventually did get what I believe to be the correct figure, which is £50
Now an error of £10 may not be a huge amount BUT banks should get it right first time.
Clive
I can confirm that what JPG writes is so true. Had similar problems with the major High Street Clearing Bank, which “mum” used for her Current account and a regular saver account.
I went in and registered the death AND had them copy the Will to prove I was an executor AND had them copy a letter from my sister to say I would be acting as sole executor.
A few days later I had a letter confirming I had registered the death and asking to see the Will. Went in and sorted that out by telling them they had a copy.
A few days later got a letter saying that the will named two executors and so my sister would have to go into the branch and sign. So I went in again with my sister’s letter and confirmed they had already got a copy of her letter.
“Mum” had a “regular saver” account with this bank so I needed the interest due at date of death.
Not to bore you with the details I have now got in my possession. .
1. A closing statement printed out by the bank clerk 43 days AFTER the date of death when the account was closed and the money transferred to the executor account. When I said this £60 interest must be greater than at the date of death the bereavement person simple wrote on the statement that it was the “interest due at the date of death”… and signed it.
2. I left and then tried again by letter. This time I received a form headed “DUPLICATE” which clearly states that the interest due for the 43 days BETWEEN the date of death and the account being closed is the same £60
3. I eventually did get what I believe to be the correct figure, which is £50
Now an error of £10 may not be a huge amount BUT banks should get it right first time.
Clive
What a nightmare!
I haven't had any sort of problems like those at all. A couple of irritants with my mother's insurance company losing their copies of the POAs 3 times, at which point I have flatly refused to provide more, telling them the dates I have mailed & faxed copies to them and they can search their own files. The dental part of the insurance company tried to tell me that only the medical part had the POA, they needed their own. I read out my previous fax to the person in which I detailed all the reference numbers and stated the POA was for all departments, including dental. I must have sounded rather cranky as the rep hurriedly said she would get a copy from the other department.
But I haven't had any problem with the bank. I went in, opened a new account for my mother, had a certified copy of the POA to give them, set up online banking and I've never looked back. The banks in the UK sound horrible. I thought Canadian banks were fees-gouging twerps (they are!) but at least they are reasonably efficient fees-gouging twerps.
I haven't had any sort of problems like those at all. A couple of irritants with my mother's insurance company losing their copies of the POAs 3 times, at which point I have flatly refused to provide more, telling them the dates I have mailed & faxed copies to them and they can search their own files. The dental part of the insurance company tried to tell me that only the medical part had the POA, they needed their own. I read out my previous fax to the person in which I detailed all the reference numbers and stated the POA was for all departments, including dental. I must have sounded rather cranky as the rep hurriedly said she would get a copy from the other department.
But I haven't had any problem with the bank. I went in, opened a new account for my mother, had a certified copy of the POA to give them, set up online banking and I've never looked back. The banks in the UK sound horrible. I thought Canadian banks were fees-gouging twerps (they are!) but at least they are reasonably efficient fees-gouging twerps.
Whilst we are on the subject of banks I am currently trying to sort out my mum’s Regular Saver account with another bank.
“Mum” was re-circulating her savings through these Regular Saver accounts to try and get a bit of extra interest.
The pamphlet said that you paid a regular amount each month for 12 months and then got the FIXED RATE of 7% at the end of a year.
Well the bank is now telling me that mum did not pay all the 12 monthly payments (because she died and the account is frozen) so the account was closed early and only qualifies for 0.1%
I am still arguing this one. When your mum has died you should not have all this messing about.
Clive
“Mum” was re-circulating her savings through these Regular Saver accounts to try and get a bit of extra interest.
The pamphlet said that you paid a regular amount each month for 12 months and then got the FIXED RATE of 7% at the end of a year.
Well the bank is now telling me that mum did not pay all the 12 monthly payments (because she died and the account is frozen) so the account was closed early and only qualifies for 0.1%
I am still arguing this one. When your mum has died you should not have all this messing about.
Clive
Thanks for the tip, Clive. I do receive paper statements (WOW - what an anachronism in these days) and keep them filed. Our bank statements here reflect both in-bank, cheques, and online activity. There isn't such a thing as a strictly online account, which is the impression I'm getting of the UK. I can access my account (or Mum's) any way which is most convenient to me (with attendant fees, natch).
